EdBudget Figures
July 2025
Proposition 98 Overview
Tracking Changes in the Proposition 98 Guarantee
(In Millions)
| 2023-24 | 2024-25 | |||||||
| June 2023 (Enacted) | June 2024 (Revised) | June 2025 (Final) | Change From June 2024 | June 2024 (Enacted) | June 2025 (Revised) | Change From June 2024 | ||
| Minimum Guarantee | $108,312 | $106,814 | $106,486 | -$327 | $115,283 | $119,946 | $4,663 | |
| Proposition 98 Funding | ||||||||
| General Fund | $77,457 | $67,095a | $67,014a | -$81 | $82,612 | $85,711 | $3,099 | |
| Local property tax | 30,854 | 31,389 | 31,470 | 81 | 32,670 | 32,317 | -353 | |
| Totals | $108,312 | $98,484b | $98,484b | $0 | $115,283 | $118,029 | $2,746 | |
| Funding Above/Below (+/-) Guarantee | - | -$8,329 | -$8,002 | $327 | - | -$1,917c | -$1,917 | |
| a Excludes $8.4 billion in withdrawals from the Proposition 98 Reserve. | ||||||||
| b Chapter 27 of 2024 (SB 154, Committee on Budget and Fiscal Review) suspended the Proposition 98 guarantee and set forth this amount as the intended funding level. | ||||||||
| c Reflects settle-up obligation. The state would be required to allocate this amount to schools and community colleges in the future, assuming no changes to its estimate of the Proposition 98 guarantee. | ||||||||